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  Illicit money outflows average 10% of GDP: Parlimentary panel

  India | June 24, 2019 22:15 IST

  The Parliamentary Standing Committee on Finance, in its report, said, "The unaccounted income and wealth inside and outside the country does not appear amenable to credible estimation in the context of India". 

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  Indians' unaccounted wealth abroad estimated at whooping $ 490 Billion: Report

  Business | June 24, 2019 17:41 IST

  Unaccounted wealth outside the country held by Indians was estimated in the range of USD 216.48 billion to USD 490 billion over various periods between 1980 and 2010, according to three separate studies conducted by three premier institutes -- NIPFP, NCAER and NIFM.  

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  RBI admits it has no data on scams in co-operative banks post-demonetisation

  January 16, 2017 14:59 IST

  The RBI has admitted that it has no details of any irregularities or scams in the exchange of the demonetised currency notes of Rs 500 and Rs 1,000 by the cooperative banks, a reply under RTI revealed on Monday.

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  I-T dept detected Rs 4,807 cr undisclosed income, seized Rs 112 cr of new notes

  January 09, 2017 6:33 IST

  Following the demonetisation drive, India's Income Tax Department has detected undisclosed income of over Rs 4,807 crore and seized new notes worth Rs 112 crore, an official source here said on Sunday.

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  In post-demonetisation raids, I-T dept uncovered Rs 4,663 cr of ‘undisclosed income’: Report

  January 03, 2017 8:27 IST

  In a massive crackdown on black money hoarders across the country, the Income Tax Department has detected over Rs 4,663 crore of undisclosed income post the demonetisation of two high-value currencies by the government.

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  Suspected deposits worth Rs 4 lakh crore under IT lens: Report

  December 30, 2016 9:04 IST

  the Income Tax Department, based on estimates that unaccounted money worth Rs 4 lakh crore may have flown into bank accounts post demonetisation, is gearing up to serve notices to those who cannot explain the source of the money. the Income Tax Dep

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  With scrapped notes worth Rs 14 lakh cr back in system, RBI unlikely to generate big dividend

  December 28, 2016 12:22 IST

  Banks have collected Rs 14 lakh crore of the Rs 15.4 lakh crore worth of Rs 500 and Rs 1,000 notes that were scrapped as a result of Prime Minister Narendra Modi’s November 8 declaration.

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  Hyderabad: Rs 7 cr deposits in Uber driver’s account post note ban stumps I-T officials

  India | December 23, 2016 12:50 IST

  the I-T sleuths were left stunned to discover deposits totalling Rs 7 crore in old notes in a bank account of an Uber cab driver from Hyderabad.

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  I-T raids post note ban: Rs 3300 cr in unaccounted income, Rs 92 cr in new notes seized

  January 09, 2017 6:30 IST

  Over Rs 3,300 crore of undisclosed income has been detected while Rs 92 crore worth new notes have been seized till now by the Income Tax department as part of its country-wide operations against black money hoarders post the demonetisation drive.

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  Rs 2,614 cr undisclosed income admitted since note ban: I-T sources

  December 16, 2016 16:02 IST

  Ever since the government’s announcement of currency demonetisation on November 8, the Income Tax department has carried out a record number of searches across the country digging out enormous amount of ‘unaccounted wealth’.

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  IT sleuths tighten noose around cash mafia, take CBI, ED, police on-board

  India | December 14, 2016 7:29 IST

  the Income Tax department has expanded its scope of investigation beyond tax invasion by roping in the police, the CBI and the Enforcement Directorate (ED) to look for possible criminality and money laundering.

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  From builders to tiffin services and dental implants, I-T casts its net on illegal currency exchange

  India | December 05, 2016 12:04 IST

  Few days after the government stopped the exchange of scrapped 500 and 1000-rupee notes, the Income Tax department raided a caterer in Mumbai and recovered over Rs 80 lakh in new notes and over Rs 40 lakh in withdrawn notes.

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  Rs 67,382 cr unaccounted money disclosed under IDS scheme so far: Finance Ministry

  December 05, 2016 8:15 IST

  The government on Sunday revised upwards the amount of black money disclosed under Income Declaration Scheme (IDS) to Rs 67,382 crore, even as it did not take into account two high-value disclosures.

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  'Money not mine', says Gujarati bizman who declared Rs 13,860 cr

  December 04, 2016 7:32 IST

  Mahesh Shah, who came under the microscope of the Income Declaration Scheme (IDS) post a surprising disclosure Rs 13,860 crore in unaccounted wealth, seems to have taken a U-turn as he today said he was

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  Banned notes worth Rs 40 crore deposited in Delhi bank, officials under I-T scanner

  November 28, 2016 14:20 IST

  Income Tax department has found that around Rs 40 crore was deposited in scrapped 500 and 1000-rupee notes at the Kashmere Gate branch of Axis Bank in New Delhi.

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  I-T dept warns people depositing unaccounted cash, may face max 7 year jail

  November 20, 2016 17:59 IST

  The income tax department has decided to impose charges under the newly enforced Benami Transactions Act against people depositing their unaccounted old currency in someone else's bank account. The act carries a penalty, prosecution and

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  Rs 91 lakh seized from Maharashtra minister Subhash Deshmukh’s vehicle

  Politics | November 18, 2016 9:59 IST

  Opposition Congress and NCP today demanded the sacking of Maharashtra Cooperative Minister Subhash Deshmukh amid reports of seizure of Rs. 91 lakh from vehicle belonging to the minister.

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  Rs.260 crore unaccounted money seized so far: EC

  India | April 16, 2014 11:29 IST

  New Delhi : Unaccounted cash totalling Rs.260 crore has been seized till Tuesday in the ongoing Lok Sabha election, the Election Commission said here.Andhra Pradesh tops the list with Rs.129 crore seized so far, while